2026-05-12T13:35:44+00:00 2025-06-30 331498605 Plante & Moran PLLC 2601 CAMBRIDGE CT SUITE 300 AUBURN HILLS MI 48326 990 2024-07-01 832236308 MSU HEALTH CARE INC MSUH 5173533143 4660 SOUTH HAGADORN ROAD 315 EAST LANSING MI 48823 KRISTINE ALLEN CHIEF ADMINSTRATIVE OFFICER 5173534929 2026-05-12 true true SAMANTHA L BECKER P01344887 2483757100 2026-04-21 2024 2025-03-06 01:10:19Z X KAREN CROSBY 4660 SOUTH HAGADORN ROAD 315 EAST LANSING MI 48823 129755478 false X WWW.HEALTHCARE.MSU.EDU X 2018 MI MISSION IS TO DELIVER A PERSONALIZED EXPERIENCE; PROVIDE A SAFE ENVIRONMENT; TRAIN THE NEXT GENERATION OF CLINICIANS; ENSURE EQUITABLE ACCESS; AND OFFER THE HIGHEST QUALITY CARE. MSU HEALTH CARE AS THE CLINICAL ENTERPRISE OF MICHIGAN STATE UNIVERSITY'S HUMAN HEALTH COLLEGES' FOCUS IS TO PROVIDE HEALING AND CARING, FORM JOINT VENTURES AND PARTNERSHIPS AND LEVERAGE OUR EXPANSIVE CLINICAL RESEARCH AND EXPERT EDUCATIONAL STRENGTHS FOR OUR PATIENTS. WE REMAIN DEDICATED TO THE LAND-GRANT MISSION AND VALUES OF MSU, A MEMBER OF THE ASSOCIATION OF AMERICAN UNIVERSITIES AND A TOP 100 RESEARCH INSTITUTION. MSU HEALTH CARE WAS FORMED TO: - FOCUS ON HEALING AND CARING - FORM JOINT VENTURES AND PARTNERSHIPS - LEVERAGE OUR CLINICAL, RESEARCH AND EDUCATION STRENGTHS DURING FY2025, MSU HEALTH CARE PROVIDED OVER 409,000 ENCOUNTERS TO PATIENTS IN THE STATE OF MICHIGAN. 9 0 0 0 -167221 0 10783140 7918206 109246681 116079960 363044 774096 9439 -2092286 120402304 122679976 10239 99051 0 0 32685971 34412226 0 0 0 93789944 90737352 126486154 125248629 -6083850 -2568653 42495868 93261257 26979839 80313881 15516029 12947376 WE DELIVER A PERSONALIZED EXPERIENCE; WE PROVIDE A SAFE ENVIRONMENT; WE TRAIN THE NEXT GENERATION OF CLINICIANS; WE ENSURE EQUITABLE ACCESS; WE OFFER THE HIGHEST QUALITY CARE false false 110770687 99051 116079960 MSU HEALTH CARE IS A 501(C)(3) NON-PROFIT CORPORATION CREATED TO BE THE CLINICAL ENTERPRISE OF MICHIGAN STATE UNIVERSITY'S COLLEGE OF HUMAN MEDICINE, COLLEGE OF NURSING AND COLLEGE OF OSTEOPATHIC MEDICINE. OUR FOCUS IS TO PROVIDE HEALING AND CARING, FORM JOINT VENTURES AND PARTNERSHIPS AND LEVERAGE OUR EXPANSIVE CLINICAL RESEARCH AND EXPERT EDUCATIONAL STRENGTHS FOR OUR PATIENTS. WE REMAIN DEDICATED TO THE LAND-GRANT MISSION AND VALUES OF MSU, A MEMBER OF THE ASSOCIATION OF AMERICAN UNIVERSITIES AND A TOP 100 RESEARCH INSTITUTION. 110770687 true true false false false false false false false false true false true true true false true true false false false false false false false false false true false true false false false false false false false false false false false false false false false true false false false false true 26 0 true 0 true true false false false false false false false false false false false X 9 0 false false true false true true true true true false false false true true true true true true false false true true MI X KAREN CROSBY 5173533143 4660 SOUTH HAGADORN ROAD SUITE 315 EAST LANSING MI 48824 Aron Sousa Vice-Chair 1.0 59.0 X X 0 727385 53073 Joel Greenberg Treasurer 2.0 58.0 X X 0 529706 40057 Leigh Small Secretary 1.0 59.0 X X 0 326884 49264 Ann Sheehan Director 0.5 59.5 X 0 169942 33014 Jed Magen Director 2.0 58.0 X 0 335820 47596 Joyce DeJong Director 0.5 59.5 X 0 495478 48687 Lisa Frace Director 0.5 59.5 X 0 500291 47131 Michael Weiner Director - PART YEAR 60.0 0.0 X 381374 0 29171 Supratik Rayamajhi Director 1.0 59.0 X 0 446889 45355 Thomas Jeitschko Director 0.5 59.5 X 0 528835 53360 Karen Crosby CFO - MSU OHS 10.0 50.0 X 0 239450 41747 Nathan Ter Beek CFO - MSU HCI - PART YEAR 60.0 0.0 X 257639 0 47345 Seth Ciabotti Chief Executive Officer - PART YEAR 60.0 0.0 X 436178 0 53360 Kristine Allen Chief Nursing Officer 60.0 0.0 X 263020 0 42952 Sandra Campbell Chief Pharmacist 50.0 0.0 X 169147 0 38017 Christie Daiss Pharmacist 50.0 0.0 X 135952 0 22801 Colleen Hoffman Radiology Administrator 50.0 0.0 X 173642 0 37994 Holly Peterson Asst. Radiology Administrator 50.0 0.0 X 131076 0 33728 Karen Ross Director of Finance 50.0 0.0 X 139434 0 31725 Kathleen Fox Director of Human Resources 50.0 0.0 X 123989 0 33916 2211451 4300680 830293 21 false true false Athena Health Inc 311 arsenal St Watertown MA 02472 EMR Vendor 2424107 Edward W Sparrow Hospital Association 1215 E Michigan Ave Lansing MI 48912 NNP staff and lease 859633 Sequence Health LLC 10 Iverness Center Parkway Birmingham AL 35242 Call Center Services 648371 DocPanel Technologies Inc 379 West Broadway New York NY 10012 Radiologist services 627448 Hall Render Killian Heath and Lyman PO Box 714570 Cincinnati OH 45271 Legal services 518850 17 4413206 3505000 7918206 Patient Services 621110 65575954 65575954 Contract Revenue 621110 20999751 20999751 Pharmacy 621110 20811257 20811257 Joint Venture 621110 5385567 5385567 Pay for Performance 621110 2178927 2178927 1128504 1128504 0 0 116079960 508121 508121 1134530 3226816 -2092286 0 -2092286 -167221 -1925065 4114661 3848686 0 265975 265975 265975 0 0 0 0 0 122679976 116079960 -167221 -1150969 99051 99051 1718203 0 1718203 0 32591896 26863463 5728433 102127 19100 83027 490165 490165 142218 142218 3095190 1939574 1155616 0 698669 14638 684031 627033 337732 289301 6181102 2518191 3662911 1568850 1556580 12270 52146 24079 28067 36817 17222 19595 2144503 2140206 4297 39012271 39012271 1448687 1098258 350429 1765441 1765441 Medical Supplies/Drugs 19624346 19624346 University Admin Fee 2974393 2974393 College Program Support 2939737 2939737 Bad Debt Expense 2097905 2097905 5837879 5728500 109379 0 125248629 110770687 14477942 0 520451 595717 8258871 5490377 12660959 14424107 0 0 624072 628449 242338 540748 62166000 7359805 7567192 54806195 0 11422630 11858197 1199355 4917467 42495868 93261257 2482413 2620703 5000 3544206 0 24492426 74148972 26979839 80313881 X 15516029 12947376 15516029 12947376 42495868 93261257 -2568653 0 X false true true false X 7501152 3470334 3320313 10783140 7918206 32993145 104049931 99398143 99741179 109246681 116079960 528515894 0 0 0 111551083 102868477 103061492 120029821 123998166 561509039 7235117 1782523 3266854 10779140 7913206 30976840 14894210 5418402 5230343 13579004 0 39121959 22129327 7200925 8497197 24358144 7913206 70098799 491410240 975851 118320 193213 372483 1324733 2984600 0 0 975851 118320 193213 372483 1324733 2984600 0 3207203 5427910 0 0 0 8635113 115734137 108414707 103254705 120402304 125322899 573128752 0.85742 0.8546 0.01 0.0037 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - , COLUMN A - 3207203.0, COLUMN B - 5427910.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - , COLUMN F - 8635113.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 754930 365891 389039 2225789 1603371 622418 59185281 5390543 53794738 54806195 Joint Venture 11858197 C 11858197 Lease Receivable (RTU) 3681047 Intercompany Receivables - MSU 534717 Note Receivable - LT (MSU) 414203 Longterm Receivables - Joint Ventures 171051 Interest Receivables 116449 4917467 Federal Income Taxes Right to Use - Leases 55593268 Due to Related Parties 18292536 Subscription Liability 241802 Accrued Interest 21366 74148972 123483001 0 0 123483001 -803025 -803025 122679976 126051654 0 0 126051654 -803025 -803025 125248629 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Bad Debt Expense - 2097905 Joint Venture Write-Off - 325886 Rental Expenses - -3226816 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Bad Debt Expense - 2097905 Joint Venture Write-Off - 325886 Rental Expenses - -3226816 true Impression 5 Science Center 200 MUSEUM DRIVE LANSING MI 48933 237200548 501(C)(3) 50000 0 N/A N/A SPONSORSHIP IZZO LEGACY 1111 E MICHIGAN AVE EAST LANSING MI 48823 834132225 501(C)(3) 20000 0 N/A N/A SPONSORSHIP LANSING ICE HOLDINGS 11550 I Street STE 150 OMAHA NE 68137 470848102 20000 0 N/A N/A SPONSORSHIP 2 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds GRANTS AND SPONSORSHIPS ARE MAINTAINED AND MONITORED BY RELATED ORGANIZATION TAX EXEMPT ORGANIZATION, MICHIGAN STATE UNIVERSITY. X X true false false false false false false false false Aron Sousa Vice-Chair 0 527385 0 0 0 200000 0 34500 0 18573 0 780458 0 0 Leigh Small Secretary 0 251164 0 0 0 75720 0 33590 0 15674 0 376148 0 0 Joel Greenberg Treasurer 0 211383 0 0 0 318323 0 24383 0 15674 0 569763 0 0 Joyce DeJong Director 0 341356 0 10000 0 144122 0 34500 0 14187 0 544165 0 0 Lisa Frace Director 0 491079 0 0 0 9212 0 34500 0 12631 0 547422 0 0 Jed Magen Director 0 260070 0 0 0 75750 0 31922 0 15674 0 383416 0 0 Ann Sheehan Director 0 159942 0 0 0 10000 0 18052 0 14962 0 202956 0 0 Thomas Jeitschko Director 0 393621 0 0 0 135214 0 34500 0 18860 0 582195 0 0 Supratik Rayamajhi Director 0 141530 0 0 0 305359 0 30393 0 14962 0 492244 0 0 Michael Weiner Director - PART YEAR 58596 0 0 0 322778 0 16540 0 12631 0 410545 0 0 0 Karen Crosby CFO - MSU OHS 0 239070 0 380 0 0 0 24216 0 17531 0 281197 0 0 Nathan Ter Beek CFO - MSU HCI - PART YEAR 257639 0 0 0 0 0 26274 0 21071 0 304984 0 0 0 Seth Ciabotti Chief Executive Officer - PART YEAR 279313 0 0 0 156865 0 34500 0 18860 0 489538 0 0 0 Kristine Allen Chief Nursing Officer 263020 0 0 0 0 0 25421 0 17531 0 305972 0 0 0 Sandra Campbell Chief Pharmacist 168672 0 475 0 0 0 16946 0 21071 0 207164 0 0 0 Colleen Hoffman Radiology Administrator 173167 0 475 0 0 0 16923 0 21071 0 211636 0 0 0 Karen Ross Director of Finance 139054 0 380 0 0 0 14194 0 17531 0 171159 0 0 0 Christie Daiss Pharmacist 135572 0 380 0 0 0 14432 0 8369 0 158753 0 0 0 Holly Peterson Asst. Radiology Administrator 130696 0 380 0 0 0 12944 0 20784 0 164804 0 0 0 Kathleen Fox Director of Human Resources 123989 0 0 0 0 0 13132 0 20784 0 157905 0 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation THE CEO IS AN EMPLOYEE OF MICHIGAN STATE UNIVERSITY. HIS COMPENSATION AND BENEFITS ARE APPROVED BY THE BOARD OR COMPENSATION COMMITTEE AND PAID BY MICHIGAN STATE UNIVERSITY. THE EXPENSE IS THEN ALLOCATED TO THE ORGANIZATION. Schedule J, Part I, Line 4a Severance or change-of-control payment SETH CIABOTTI RECEIVED SEVERANCE PAYMENTS TOTALING $120,666 DURING THE TAX YEAR. PAYMENTS ARE MADE IN MONTHLY INSTALLMENTS FROM MARCH 2025 THROUGH JUNE 2025 PER SEVERANCE AGREEMENT SIGNED BY THE PARTIES ON 2/14/2025. Form 990, Part VI, Line 15b THE CEO'S EMPLOYMENT AND COMPENSATION PLAN WERE APPROVED BY THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY, A RELATED ORGANIZATION. ANY RAISES GIVEN (OUTSIDE OF THE ANNUAL UNIVERSITY-WIDE INCREASE) ARE BASED UPON AN EXTERNAL SURVEY OF COMPENSATION. SIMILAR SURVEY DATA IS USED FOR MSU HEALTH CARE INC. BOARD OF DIRECTORS WHO ARE ALSO MSU DEANS AND DEPARTMENT CHAIRS. COMPENSATION FOR KEY EMPLOYEES IS BASED ON ANNUAL EVALUATIONS AND UNION CONTRACTS. ALL RAISES ARE APPROVED BY THE CEO. ANY RAISES OVER 10% ARE REQUIRED TO BE APPROVED BY THE EXECUTIVE VICE PRESIDENT OF HEALTH SCIENCES FOR MICHIGAN STATE UNIVERSITY. Form 990, Part VI, Line 1b THE BOARD DOES NOT HAVE ANY INDEPENDENT DIRECTORS BECAUSE THEY ARE ALL COMPENSATED BY A RELATED ORGANIZATION, BUT ULTIMATELY THE ORGANIZATION IS CONTROLLED BY THE SOLE MEMBER, ANOTHER 501(C)(3), WHICH DOES HAVE AN INDEPENDENT BOARD. Form 990, Part VI, Line 3 DURING FISCAL YEAR 2025, MSU HEALTH CARE ENTERED INTO A PROFESSIONAL AND MANAGEMENT SERVICES AGREEMENT WITH HENRY FORD HEALTH SYSTEM ("HFHS"). The agreement establishes clinical and operational integration between the organization and HFHS. As of June 30, 2025, the agreement has not become operational and the operational structure of MSU HCI will remain the same through December 31, 2025. Form 990, Part VI, Line 4 Significant changes to organizational documents The bylaws of MSU Health Care, Inc. were amended on February 7, 2025. The amendments revised the structure and composition of the Board of Directors by increasing the number of voting members to ten and expanding the number of ex officio voting members from six to seven, including the addition of the related organization, MSU's Chief Financial Officer as an ex officio voting member. The amendments also updated committee governance provisions by removing the requirement that the chair of any committee shall be a member of the Board of Directors. Form 990, Part VI, Line 6 Classes of members or stockholders THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY IS THE SOLE MEMBER OF MSU HEALTH CARE, INC. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The Corporate Member shall have such rights and powers as are provided for in the Articles, these Bylaws, and the laws of the State of Michigan, including the following powers: (a) to amend the Articles and/or these Bylaws; (b) to appoint or remove, with or without cause, any director of the Corporation, as described herein; (c) to vote on all matters in which the vote of members with voting rights is required under the Articles, the Bylaws, or the laws of the State of Michigan; (d) to approve the Corporation's merger, dissolution, consolidation, or reorganization; (e) to approve the acquisition, sale, lease, transfer or other alienation of the majority of the Corporation's assets, other than in the usual and regular course of the Corporation's business; (f) to approve indebtedness of the Corporation in excess of 20% of the annual budget of the Corporation; (g) to approve the disposition of the Corporation's assets at the time of the Corporation's dissolution, subject to the Articles; (h) to approve the Corporation entering into any joint ventures or creating any subsidiary organizations with a capital commitment greater than $10 Million Dollars; and (i) to approve changes in the Corporation's mission or philosophy. Powers that are not reserved to the Corporate Member or otherwise delegated by the Board of Directors shall be exercised by the Corporation's Board of Directors, subject to the limitations contained in the Articles, these Bylaws, and applicable law. Among such powers, the Board of Directors shall have authority to discuss, vote upon, and present any of the above matters to the Corporate Member for its approval. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders SEE LINE 7A EXPLANATION Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANT, REVIEWED AND APPROVED BY THE AUDIT COMMITTEE AND CONTROLLER, AND PROVIDED TO THE BOARD PRIOR TO BEING FILED. Form 990, Part VI, Line 12c Conflict of interest policy EACH DIRECTOR AND PRINCIPAL OFFICER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE INTERESTED PERSON SHALL THEN LEAVE THE BOARD OF DIRECTORS MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST EXISTS, THE CHAIRPERSON SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT TO DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE, AND IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FAILURE TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST SHALL RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 2f Other Program Service Revenue Management Service Fees - Total Revenue: 823598, Related or Exempt Function Revenue: 823598, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Billing Service Fees - Total Revenue: 157297, Related or Exempt Function Revenue: 157297, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Care Coordination Fees - Total Revenue: 29346, Related or Exempt Function Revenue: 29346, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Research/Clinical Fees - Total Revenue: 24623, Related or Exempt Function Revenue: 24623, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Other Medical Revene - Total Revenue: 93640, Related or Exempt Function Revenue: 93640, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XII, Line 2c THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. MICHIGAN STATE UNIVERSITY 426 AUDITORIUM ROAD EAST LANSING MI 48824 386005984 EDUCATION MI 501(c)(3) 2 NA false LYSANDER SERIES OF AESIR SERIES LLC 1327 ASHLEY RIVER ROAD BLDG C STE 200 CHARLESTON SC 29407 830915942 RISK MANAGEMENT DE NA C Corporation true false false true false false false false false true false false false false false true true true false true